BN 03/11 18:31 *ENDO HAS 'HIGHLY CONFIDENT' LETTERS FROM BANKS ON FINANCING
BN 03/11 18:29 *ENDO CONFIDENT IT WOULD OBTAIN REGULATORY & HOLDER APPROVALS
BN 03/11 18:29 *ENDO CONFIRMS OFFER TO BUY SALIX FOR $175.00/SHR IN CASH, STOCK
BFW 03/11 18:29 *ENDO PROPOSAL TO BUY SALIX FOR $175.00/SHR IN CASH & STOCK
BN 03/11 18:29 *ENDO PROPOSED DEAL WOULD NOT BE SUBJECT TO FINANCING CONDITION
BFW 03/11 18:29 *ENDO CONFIRMS PROPOSAL TO BUY SALIX FOR $175.00-SHR IN CASH,
BN 03/11 18:29 *ENDO PROPOSAL TO BUY SALIX FOR $175.00/SHR IN CASH & STOCK
BN 03/11 18:28 *ENDO CONFIRMS PROPOSAL TO BUY SALIX FOR $175.00/SHR IN CASH & S
BN 03/11 18:28 *ENDO CONFIRMS PROPOSAL TO BUY SALIX FOR $175.00/SHR IN CASH &
BN 03/11 18:28 *ENDO CONFIRMS PROPOSAL TO BUY SALIX FOR $175.00-SHR IN CASH,
BN 03/11 18:29 *ENDO CONFIDENT IT WOULD OBTAIN REGULATORY & HOLDER APPROVALS
BN 03/11 18:29 *ENDO CONFIRMS OFFER TO BUY SALIX FOR $175.00/SHR IN CASH, STOCK
BFW 03/11 18:29 *ENDO PROPOSAL TO BUY SALIX FOR $175.00/SHR IN CASH & STOCK
BN 03/11 18:29 *ENDO PROPOSED DEAL WOULD NOT BE SUBJECT TO FINANCING CONDITION
BFW 03/11 18:29 *ENDO CONFIRMS PROPOSAL TO BUY SALIX FOR $175.00-SHR IN CASH,
BN 03/11 18:29 *ENDO PROPOSAL TO BUY SALIX FOR $175.00/SHR IN CASH & STOCK
BN 03/11 18:28 *ENDO CONFIRMS PROPOSAL TO BUY SALIX FOR $175.00/SHR IN CASH & S
BN 03/11 18:28 *ENDO CONFIRMS PROPOSAL TO BUY SALIX FOR $175.00/SHR IN CASH &
BN 03/11 18:28 *ENDO CONFIRMS PROPOSAL TO BUY SALIX FOR $175.00-SHR IN CASH,
Endo Confirms Proposal To Acquire Salix For $175.00 Per Share In Cash And Stock
2015-03-11 18:28:51.483 GMT
DUBLIN, March 11, 2015 /CNW/ -- Endo International plc (NASDAQ: ENDP) (TSX:
ENL) today confirmed that it has submitted a proposal to the Board of
Directors of Salix to acquire all of the outstanding shares of common stock of
Salix Pharmaceuticals, Ltd. in a negotiated cash and stock transaction. Based
on the closing stock price of Endo on March 10, 2015, the transaction is
valued at $175.00 per Salix share.
Endo believes that its cash and stock proposal would provide Salix
shareholders with a substantial premium and immediate cash value, as well as
the opportunity to participate in the significant upside potential of a global
leader in specialty pharmaceuticals with a highly diversified platform for
future growth, through a material equity component. Endo believes that its
proposal constitutes a "Superior Proposal" under the terms of Salix's Merger
Agreement with Valeant Pharmaceuticals International, Inc.
If a negotiated transaction were to be agreed to with Salix, Endo anticipates
that the transaction could close in the second quarter and is confident that
it would obtain any regulatory and shareholder approvals. The proposed
transaction would not be subject to any financing condition.
Additional information regarding Endo's proposal, including the full terms and
conditions, are included in a letter that Endo provided to the Salix Board of
Directors today, which is filed on Form 8-K with the Securities and Exchange
Commission (see attached PDF). There can be no assurance that any transaction
will result from this proposal.
BofA Merrill Lynch and Credit Suisse Securities (USA) LLC are serving as
financial advisors to Endo and Skadden, Arps, Slate, Meagher & Flom LLP is
serving as its legal advisor.
About Endo International plc Endo International plc is a global specialty
healthcare company focused on improving patients' lives while creating
shareholder value. Endo develops, manufactures, markets, and distributes
quality branded pharmaceutical, generic pharmaceutical, over the counter
medications and medical device products through its operating companies. Endo
has global headquarters in Dublin, Ireland, and U.S. headquarters in Malvern,
PA. Learn more at www.endo.com.
Cautionary Note Regarding Forward-Looking Statements This press release
contains forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995 and Canadian securities legislation.
Statements including words such as "believes," "expects," "anticipates,"
"intends," "estimates," "plan," "will," "may," "look forward," "intend,"
"guidance," "future" or similar expressions are forward-looking statements.
Because these statements reflect Endo's current views, expectations and
beliefs concerning future events, these forward-looking statements involve
risks and uncertainties. Although Endo believes that these forward- looking
statements and information are based upon reasonable assumptions and
expectations, readers should not place undue reliance on them, or any other
forward- looking statements or information in this news release. Investors
should note that many factors, as more fully described in the documents filed
by Endo with securities regulators in the United States and Canada including
under the caption "Risk Factors" in Endo's Form 10-K, Form 10-Q and Form 8-K
filings with the Securities and Exchange Commission and with securities
regulators in Canada on System for Electronic Document Analysis and Retrieval
("SEDAR") and as otherwise enumerated herein or therein, could affect Endo's
future financial results and could cause Endo's actual results to differ
materially from those expressed in forward-looking statements contained in
Endo's Annual Report on Form 10-K. The forward-looking statements in this
press release are qualified by these risk factors. These are factors that,
individually or in the aggregate, could cause Endo's actual results to differ
materially from expected and historical results. Endo assumes no obligation to
publicly update any forward-looking statements, whether as a result of new
information, future developments or otherwise, except as may be required under
applicable securities law.
Additional Information This document is provided for informational purposes
only and is neither an offer to purchase nor a solicitation of an offer to
sell shares of Endo or Salix. Subject to future developments and an agreement
between Endo and Salix, Endo may file a registration statement and/or tender
offer documents with the U.S. Securities and Exchange Commission (the "SEC")
in connection with the proposed combination. Endo and Salix shareholders
should read those filings, and any other filings made by Endo with the SEC in
connection with the proposed combination, as they will contain important
information. Those documents, if and when filed, as well as Endo's other
public filings with the SEC, may be obtained without charge at the SEC's
website at www.sec.gov and at Endo's website at endo.com.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/endo-confirms-proposal-to-acquire-salix-for-17500-per-share-in-cash-and-stock-300049134.html
SOURCE Endo International plc
Investors/Media: Keri Mattox, (484) 216-7912; Investors: Jonathan Neely, (484)
216-6645; Media: Heather Zoumas-Lubeski, (484) 216-6829; Media: Andy Brimmer /
Kelly Sullivan / Aaron Palash, Joele Frank, Wilkinson Brimmer Katcher, (212)
355-4449
CO: Valeant Pharmaceuticals International, Inc.
ST: Ireland
NI: HEA MTC MNA
-0- Mar/11/2015 18:28 GMT
2015-03-11 18:28:51.483 GMT
DUBLIN, March 11, 2015 /CNW/ -- Endo International plc (NASDAQ: ENDP) (TSX:
ENL) today confirmed that it has submitted a proposal to the Board of
Directors of Salix to acquire all of the outstanding shares of common stock of
Salix Pharmaceuticals, Ltd. in a negotiated cash and stock transaction. Based
on the closing stock price of Endo on March 10, 2015, the transaction is
valued at $175.00 per Salix share.
Endo believes that its cash and stock proposal would provide Salix
shareholders with a substantial premium and immediate cash value, as well as
the opportunity to participate in the significant upside potential of a global
leader in specialty pharmaceuticals with a highly diversified platform for
future growth, through a material equity component. Endo believes that its
proposal constitutes a "Superior Proposal" under the terms of Salix's Merger
Agreement with Valeant Pharmaceuticals International, Inc.
If a negotiated transaction were to be agreed to with Salix, Endo anticipates
that the transaction could close in the second quarter and is confident that
it would obtain any regulatory and shareholder approvals. The proposed
transaction would not be subject to any financing condition.
Additional information regarding Endo's proposal, including the full terms and
conditions, are included in a letter that Endo provided to the Salix Board of
Directors today, which is filed on Form 8-K with the Securities and Exchange
Commission (see attached PDF). There can be no assurance that any transaction
will result from this proposal.
BofA Merrill Lynch and Credit Suisse Securities (USA) LLC are serving as
financial advisors to Endo and Skadden, Arps, Slate, Meagher & Flom LLP is
serving as its legal advisor.
About Endo International plc Endo International plc is a global specialty
healthcare company focused on improving patients' lives while creating
shareholder value. Endo develops, manufactures, markets, and distributes
quality branded pharmaceutical, generic pharmaceutical, over the counter
medications and medical device products through its operating companies. Endo
has global headquarters in Dublin, Ireland, and U.S. headquarters in Malvern,
PA. Learn more at www.endo.com.
Cautionary Note Regarding Forward-Looking Statements This press release
contains forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995 and Canadian securities legislation.
Statements including words such as "believes," "expects," "anticipates,"
"intends," "estimates," "plan," "will," "may," "look forward," "intend,"
"guidance," "future" or similar expressions are forward-looking statements.
Because these statements reflect Endo's current views, expectations and
beliefs concerning future events, these forward-looking statements involve
risks and uncertainties. Although Endo believes that these forward- looking
statements and information are based upon reasonable assumptions and
expectations, readers should not place undue reliance on them, or any other
forward- looking statements or information in this news release. Investors
should note that many factors, as more fully described in the documents filed
by Endo with securities regulators in the United States and Canada including
under the caption "Risk Factors" in Endo's Form 10-K, Form 10-Q and Form 8-K
filings with the Securities and Exchange Commission and with securities
regulators in Canada on System for Electronic Document Analysis and Retrieval
("SEDAR") and as otherwise enumerated herein or therein, could affect Endo's
future financial results and could cause Endo's actual results to differ
materially from those expressed in forward-looking statements contained in
Endo's Annual Report on Form 10-K. The forward-looking statements in this
press release are qualified by these risk factors. These are factors that,
individually or in the aggregate, could cause Endo's actual results to differ
materially from expected and historical results. Endo assumes no obligation to
publicly update any forward-looking statements, whether as a result of new
information, future developments or otherwise, except as may be required under
applicable securities law.
Additional Information This document is provided for informational purposes
only and is neither an offer to purchase nor a solicitation of an offer to
sell shares of Endo or Salix. Subject to future developments and an agreement
between Endo and Salix, Endo may file a registration statement and/or tender
offer documents with the U.S. Securities and Exchange Commission (the "SEC")
in connection with the proposed combination. Endo and Salix shareholders
should read those filings, and any other filings made by Endo with the SEC in
connection with the proposed combination, as they will contain important
information. Those documents, if and when filed, as well as Endo's other
public filings with the SEC, may be obtained without charge at the SEC's
website at www.sec.gov and at Endo's website at endo.com.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/endo-confirms-proposal-to-acquire-salix-for-17500-per-share-in-cash-and-stock-300049134.html
SOURCE Endo International plc
Investors/Media: Keri Mattox, (484) 216-7912; Investors: Jonathan Neely, (484)
216-6645; Media: Heather Zoumas-Lubeski, (484) 216-6829; Media: Andy Brimmer /
Kelly Sullivan / Aaron Palash, Joele Frank, Wilkinson Brimmer Katcher, (212)
355-4449
CO: Valeant Pharmaceuticals International, Inc.
ST: Ireland
NI: HEA MTC MNA
-0- Mar/11/2015 18:28 GMT